Cablevisión Holding Announces its Nine Months and Third Quarter 2025 Results

Rhea-AI Summary

Cablevisión Holding (NYSE:TEO) reported Nine Months and Third Quarter 2025 results prepared under IFRS and adjusted for inflation as of Sept 30, 2025. The company noted results are not fully comparable to 9M24 after the Telefónica Móvil Argentina (TMA) acquisition on Feb 24, 2025, with TMA results included from Mar 1, 2025.

Key figures (9M25): Total Revenues Ps. 5,622,561m (+49.6% real), EBITDA Ps. 1,705,926m (+57.8% real) and EBITDA margin 30.3% (vs 28.8%). Consolidated net loss was Ps. 279,620m; net loss attributable to equity holders Ps. 120,080m.

The company attributed revenue and cost increases mainly to the incorporation of TMA and higher ARPUs in mobile, internet and cable TV.

Positive

• Total Revenues increased 49.6% in real terms to Ps. 5,622,561 million
• EBITDA rose 57.8% in real terms to Ps. 1,705,926 million
• EBITDA margin improved to 30.3% from 28.8% year-over-year

Negative

• Consolidated net loss of Ps. 279,620 million for 9M25
• Net loss attributable to equity shareholders of Ps. 120,080 million
• Total costs excluding D&A rose 46.3% in constant currency, driven by TMA acquisition

Insights

Equity Analyst

Revenue and EBITDA rose sharply after the TMA acquisition, but the group reported a large consolidated net loss.

Cablevisión Holding recorded Ps. 5,622,561 million in total revenues for 9M25, a 49.6% increase versus 9M24, and Ps. 1,705,926 million of EBITDA, up 57.8%. The report explicitly attributes most improvements to the February 24, 2025 acquisition of Telefónica Móvil Argentina and higher ARPUs in mobile, internet, and Cable TV.

The operating picture depends on integration effects and non‑operating items that produced a consolidated net loss of Ps. 279,620 million, including a loss attributable to equity shareholders of Ps. 120,080 million. Costs rose to Ps. 3,916,635 million, largely reflecting TMA; on a pro forma basis excluding TMA, costs fell 3.0%, showing some underlying efficiency.

Watch the near term webcast on November 12, 2025 for management commentary and detail on the drivers of the net loss and non‑operating items. Monitor quarterly EBITDA margin trends (9M25 margin 30.3%) and any disclosed reconciliations explaining the swing to net loss within the next quarter.

BUENOS AIRES, ARGENTINA / ACCESS Newswire / November 10, 2025 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company" - BCBA:CVH)(OTC:CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE:TEO)(BCBA:TECO2), announced today its Nine Months and Third Quarter 2025 Results. Figures have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in constant Argentine Pesos ("Ps." or "P$") as of September 30, 2025, unless otherwise indicated.

The Company's Management has applied IAS 29 (inflation adjustment) in the preparation of these financial statements, following the provisions of Resolution 777/18, issued by the Comisión Nacional de Valores ("CNV").

CVH Highlights (9M25 vs. 9M24):

• This quarter includes results of Telefónica Móvil Argentina ('TMA'), which was acquired by Telecom Argentina on February 24, 2025, hence, the results for the 9M25 aren't comparable to the results of 9M24 as they include results of TMA from March 1^st 2025.

• Total Revenues reached Ps. 5,622,561 million, an increase of 49.6% in real terms as of 9M25, compared to the same period of 2024, mostly driven by the incorporation of revenue from TMA and by higher ARPUs in real terms in mobile, internet and Cable TV services, in part the effect of price increases carried implemented in 2024 and the decrease in inflation rate; partially offset by a decrease in fixed telephony copper accesses.

• Total Costs (Excluding Depreciation and Amortization) reached Ps. 3,916,635 million, an increase of 46.3% in constant currency, mainly driven by higher costs on all items, driven by the incorporation of TMA. Excluding this effect, total costs reached Ps. 2,596,051 million, a decrease of 3.0% compared to 9M24.

• EBITDA reached Ps. 1,705,926 million as of 9M25, an increase of 57.8% in real terms compared to 9M24, mainly driven by the incorporation of TMA's EBITDA, and by higher revenues (excluding TMA), resulting in a higher EBITDA Margin of 30.3% in 9M25, compared to 28.8% in 9M24.

• Consolidated Net Loss amounted to Ps. 279,620 million. Consolidated net loss attributable to the Controlling Company amounted to Ps. 120,080 million.

FINANCIAL HIGHLIGHTS

(millions of Ps. in constant Currency as of September 30, 2025)			9M25				9M24			% Ch.					3Q25				2Q25				3Q24			QoQ				YoY
Total Revenues			5,622,561				3,758,165				49.6	%			2,065,202				2,025,772				1,295,363				1.9	%			59.4	%
EBITDA (1)			1,705,926				1,081,123				57.8	%			645,770				556,213				351,243				16.1	%			83.9	%
EBITDA Margin (2)			30.3	%			28.8	%			5.5	%			31.3	%			27.5	%			27.1	%			13.9	%			15.3	%
Net income			(279,620	)			1,248,159				(122.4	%)			(194,646	)			(182,449	)			(16,572	)			6.7	%			1074.6	%
Attributable to:
Equity Shareholders			(120,080	)			477,259				(125.2	%)			(80,471	)			(71,483	)			(9,786	)			12.6	%			722.3	%
Non-Controlling Interests			(159,540	)			770,900				(120.7	%)			(114,175	)			(110,966	)			(6,786	)			2.9	%			1582.6	%

^{(1) EBITDA is defined as Total Revenues minus operating cost and expenses (excluding depreciation and amortization). We believe that EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute EBITDA in a different manner; therefore, EBITDA as reported by other companies may not be comparable to EBITDA as we report it.}

^{(2 ) EBITDA Margin is defined as EBITDA over Total Revenues.}

CONFERENCE CALL AND WEBCAST INFORMATION

CABLEVISIÓN HOLDING S.A
(BCBA:CVH)(OTC:CVHSY)
cordially invites you to participate in its Webcast Presentation
to discuss the Nine Months and Third Quarter 2025 Results

Date: Wednesday, November 12, 2025
Time: 12:00pm Buenos Aires Time/11:00am New York Time/4:00pm London

To access the live stream and slide presentation, visit: https://event.choruscall.com/mediaframe/webcast.html?webcastid=odJ1X74P

The webcast presentation will also be available at: https://www.cablevisionholding.com/Investors

ABOUT THE COMPANY

CVH was founded as corporate spin-off from Grupo Clarín S.A. and it is the first Argentine holding company that engages in the development of infrastructure and the provision of convergent telecommunications services, focusing on Argentina and the region. CVH's subsidiaries specialize in the provision of cable TV, broadband and mobile communications services; and their brands are well known in the telecommunications and content distribution industries.

Disclaimer

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of CVH. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. CVH does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in CVH's projections or forward-looking statements, including, among others, general economic conditions, CVH's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to CVH and its operations.

Investor Relations Contacts: In Buenos Aires: Cablevisión Holding S.A. Samantha Olivieri, Head of Investor Relations Email: ir@cvh.com.ar Tel: (+54 11) 4309 - 3417 www.cvh.com.ar

In New York: Fig Corporate Communications Camilla Ferreira and Marcella Ewerton Dragone Email: fig@fig.ooo Tel: +1 917 691-4047

SOURCE: Cablevision Holding S.A.

View the original press release on ACCESS Newswire

FAQ

What did Cablevisión Holding (TEO) report for Total Revenues in 9M25?

Cablevisión Holding reported Total Revenues of Ps. 5,622,561 million for 9M25, a 49.6% increase in real terms versus 9M24.

How did Telecom Argentina's EBITDA perform in 9M25 for TEO?

Consolidated EBITDA was Ps. 1,705,926 million for 9M25, a 57.8% increase in real terms versus 9M24.

Why are Cablevisión Holding's 9M25 results not comparable to 9M24 (TEO)?

Results include Telefónica Móvil Argentina (TMA) following its acquisition on Feb 24, 2025, with TMA results included from March 1, 2025.

What net loss did Cablevisión Holding report for 9M25 and attributable to equity holders (TEO)?

The consolidated net loss was Ps. 279,620 million, with Ps. 120,080 million attributable to equity shareholders for 9M25.

When is Cablevisión Holding's 9M25 webcast for investors and where to access it (TEO)?

The webcast is scheduled for Nov 12, 2025 at 12:00pm Buenos Aires Time and is available via the provided webcast link and the company's Investors page.